These probability distribution charts are the topic of this article. The first is a normal distribution of returns using a combination of a cap rate of 5% and rent growth of 2% (and assuming an unchanged cap rate a year later) further assuming an annualized standard deviation of returns of 6.5%. The second is how […]
When considering changes or potential changes in commercial real estate capitalization rates (cap rates), market participants tend to most commonly think of interest rates. However, rent growth assumptions also affect cap rates as the more one expect earnings to grow over time the less return an investor is willing to accept now. This is just […]
The chart in this post shows the number of closed sales of Miami-Dade commercial properties, including improved commercial property and vacant commercial land, that were recorded in the Miami MLS for the two years ending February 2021. One can see that February was a fairly normal sales month for Miami commercial real estate. This is […]
The sales to list price ratio as reported by the Miami MLS for improved commercial real estate (MLS classification: commercial/industrial) within Miami-Dade county in Florida priced from $1 million to $10 million in February drifted lower to 90.3% from 94.1% the month prior. Though the lowest it has been since September of 2020, this percentage […]
To use this effectively, you’ll want to filter by zoning. To do that, you’ll need to access this on Google Maps directly using the link later in this post. First, however, read the following: This map was made by using publicly available sales from 2018 to 2020, filtering out sales types such as multi-parcel sales […]
Finding myself involved in multifamily development deals of late, I tasked myself with updating my general feel for area construction costs of such projects. What I discovered matched all such conversations of late and can be summed in a word; escalating. One conversation was with a principal of a substantial area general contractor. When I […]
The top image shows various listing performance metrics for a premium listing in Loopnet for the light industrial property at 1007 Park Centre Blvd, Miami, FL 33169. Highlighted is detail page clicks, the number of times users clicked through and viewed the detail page for the property on Loopnet. The bottom image displays the same […]
The Biden administration recently announced an initiative to push the United States toward more electric vehicles, less powered by gasoline. Automotive News covered this in their article suggesting this push gives Detroit the cover they’ve needed and wanted to go electric. This begs a question pertinent to commercial real estate; if there are less gas […]
The sales to list price ratio as reported by the Miami MLS for improved commercial real estate (MLS classification: commercial/industrial) within Miami-Dade county in Florida priced from $1 million to $10 million in January hit 95.1%, the highest level in 16 months. The last time this ratio was higher was September 2019 when the ratio […]
The chart herein shows the number of closed sales of Miami-Dade commercial properties, including improved commercial property and vacant commercial land, recorded in the Miami MLS, for the two years ending January 2021. One can see that this is the slowest month since the initial onslaught of COVID-19 in April and May of 2021. Looking […]
Yields on 5-year U.S. Treasury Notes continue to remain at lows reached as COVID slowed economic activity, driving rates lower. As can be seen in the chart above, these rates, most closely tracked for commercial real estate financing cost, remained near zero percent, closing at 0.36%, barely in excess of a third of a percent […]
The sales to list price ratio as reported by the Miami MLS for improved commercial real estate within Miami-Dade County from $1 million to $10 million in December was 91.50%, just above the 10 year average of 91.04%. Coincidentally December’s 91.40% ratio is exactly, to the fourth decimal point (2nd of a percentage, thus the […]
The chart above displays the trailing two years ending December 2020 of closed sales of Miami-Dade commercial properties, including improved commercial property and vacant commercial land, recorded in the Miami MLS. After a bit of a pullback in November, sales rebounded to closed out the year fairly strong, registering the sixth strongest month of the […]
This property is under contract, to close on or before May 31. We are accepting backup offers. Contact James Hawkins for details. Related Destinations: Listing at LoopNet Zoning Map Zoning Code Excerpt: Increased density of up to 100 units per acre is permitted for affordable housing developments as defined by Section 420.0004, Florida Statutes. 2030 […]
As has been reported extensively in the press, a number of Metronomic properties are being auctioned. Stalking horse bids are now due by February 24, 2021. The properties being auctioned are available for purchase individually or in any combination, or one can bid on the entire package of properties. As can be seen, these are […]
The metropolitan statistical area (MSA) of Miami is among the 10 largest MSAs in the United States, with a population that is today estimated at in excess of 6 million. 100 years ago, however, Miami was a much smaller city, and its skyline was but a few low buildings on or near Flagler Street. Today, […]
